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Soros pledges $1 million to Obama Super PAC

Reuters and JTA [1]
Oct 1, 2012

Billionaire financier George Soros has committed $1 million to the “Super PAC” group that is helping fund President Barack Obama’s re-election bid, a person familiar with the pledge said on Thursday.

The move by Soros could trigger more big checks from liberal donors who have previously avoided giving to Super PACs due to their concern over the unlimited spending power of such groups.

Until this year, Soros held the record as the biggest contributor in an election cycle for his 2004 political giving. His record has been eclipsed by Las Vegas casino owner Sheldon Adelson, who has said he has given $70 million to help Republicans in the 2012 election. In the past Adelson has pledged to spend up to $100 million to defeat Obama and conventional democrats in upcoming elections.

Soros’s $1 million pledge to Priorities USA Action was first reported by The New York Times as revealed at a big-donor meeting in New York on Thursday, held by the Democracy Alliance. The pledge was announced by Michael Vachon, a longtime Soros political adviser, according to the Times.

Full article here [1]